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    353 First St Blue Ridge, GA 30513

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    353 First St Blue Ridge, GA 30513

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    • Commercial real estate
    • 3,240 SF
    Off-Market
    Property ID
    US22-2898614
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 353 First St

    Year built
    1945
    Property size
    3,240 SF
    Property type
    Commercial real estate

    Description

    This exceptional commercial property, located at 353 W First Street in historic downtown Blue Ridge, Georgia, presents a unique investment opportunity. The 10,454.4 square foot corner lot boasts high visibility, ideal for a variety of businesses. The existing 3,240 square foot building, constructed in 1945, offers a solid foundation for redevelopment or repurposing. Its versatile nature makes it suitable for retail establishments, professional offices, or numerous other commercial ventures. The property benefits from convenient access to city water, sewer, and natural gas utilities. Situated in a high-traffic area, this location ensures significant exposure for any business. The asking price is $999,500. This prime downtown Blue Ridge property is ready for its next chapter, offering substantial potential for growth and return on investment. Don't miss this chance to acquire a piece of Blue Ridge's vibrant commercial landscape. The property is zoned for commercial use and is located in Fannin County, Georgia, zip code 30513. This is a rare opportunity to own a piece of Blue Ridge's thriving downtown area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Blue Ridge
    County
    Fannin
    State
    Georgia
    Longitude
    -84.324238
    Latitude
    34.8678093

    Comparable in this City

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      Commercial Property in Blue Ridge

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      Blue Ridge Vacant Lot

      3+ acre lot in Aska Adventure Area, Blue Ridge, GA.
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    • $849,900
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      Blue Ridge Commercial Acreage

      4.27 acre commercial lot in Blue Ridge, Georgia.
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    • $149,999
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      Unrestricted Land with Creek Frontage

      2.64 acres ready to build near downtown Blue Ridge.
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    • $95,000
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      Blue Ridge Mountain View Lot

      1.96-acre lot near Appalachian Trail with mountain views.
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    Similar Nearby for Sale

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      Commercial Property in Blue Ridge

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    • $95,000
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      Blue Ridge Mountain View Lot

      1.96-acre lot near Appalachian Trail with mountain views.
      1a Colbert Mountain Rd, Blue Ridge, GA 30513
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    • $575,000
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      Blue Ridge Vacant Lot

      5.2 acre lot near downtown Blue Ridge, Georgia.
      5.2 Deer Crst Rd, Blue Ridge, GA 30513
      View Details
    • $72,000
      3.07 Acres

      Blue Ridge Vacant Lot

      3+ acre lot in Aska Adventure Area, Blue Ridge, GA.
      16 Buckskin Dr, Blue Ridge, GA 30513
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    • $94,000
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      Blue Ridge Mountain Community Lot

      Corner lot in gated mountain community, perfect for custom residence.
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    • $849,900
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      Blue Ridge Commercial Acreage

      4.27 acre commercial lot in Blue Ridge, Georgia.
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    Similar Nearby for Lease

    • Contact for pricing

      Prime Location Retail Opportunity

      Excellent location for business to thrive in Blue Ridge.
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    • Contact for pricing

      Blue Ridge Retail/Restaurant Opportunity

      Prime location suitable for retail or restaurant in Blue Ridge.
      2664 E First St, Blue Ridge, GA 30513
      View Details
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    Blue Ridge, GA 30513
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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